CMB.TECH reported sharply higher second-quarter 2026 earnings as strong tanker and dry-bulk markets, its expanded fleet and asset-sale gains drove significant growth in revenue, EBITDA and net profit.
Revenue reached $703.9 million, compared with $387.8 million in the prior-year quarter.
That represents growth of approximately 81.5%.
EBITDA increased even faster, reaching $552.8 million from $224.1 million, an increase of approximately 147%.
Net profit reached $364.4 million, or $1.26 per share.
That compares with just $7.8 million, or $0.04 per share attributable to owners, in the second quarter of 2025.
Part of the quarterly profitability reflected gains on vessel disposals.
CMB.TECH recorded a $98.2 million gain from the previously announced sales of the VLCCs Ilma and Ingrid and another $29.2 million gain from the sale of the Suezmax Sienna.
The company has additional asset-sale gains scheduled for recognition later in 2026.
The sale of the VLCC Donoussa is expected to generate a roughly $74.3 million gain in Q4.
Sales of the Suezmax vessels Brest, Brugge and Bristol are expected to generate approximately $100.2 million of gains in Q3 and another $56.9 million in Q4 based on current book values and sale prices.
CMB.TECH’s contracted-revenue base also remained substantial.
Contract backlog stood at approximately $3.26 billion, supported by the addition of two two-year commissioning service operation vessel time charters and one one-year VLCC time charter.
One of the company’s more significant strategic developments involves alternative marine fuels.
CMB.TECH and Fortescue signed an agreement covering the charter of as many as 12 ammonia-powered Newcastlemax vessels.
The initiative aligns with CMB.TECH’s broader investment in a newbuilding program designed around lower-carbon and future fuel technologies.
The fleet is expanding rapidly.
CMB.TECH took delivery of nine newbuilding vessels during Q2 and the early portion of Q3, including four Newcastlemaxes, a VLCC, two Suezmaxes, a CSOV and a crew-transfer vessel.
The additions reflect the company’s broader diversification beyond its historical tanker exposure following the Golden Ocean acquisition.
Cash generation increased sharply as well.
Net cash from operating activities reached $417.3 million during the first half, compared with $73.1 million a year earlier, an increase of more than fivefold.
Net cash and equivalents stood at approximately $151.6 million at June 30.
CMB.TECH intends to distribute $0.64 per share following the quarter.
The financial story is therefore broader than unusually favorable shipping rates.
The company has substantially expanded revenue, generated large amounts of operating cash, retained a $3.26 billion backlog and continued executing a fleet renewal strategy that increasingly includes ammonia-capable vessels.
Asset sales contributed meaningfully to reported profit, so not all of the earnings surge represents recurring vessel operations.
Even so, the approximately 147% increase in EBITDA illustrates the magnitude of the improvement in CMB.TECH’s underlying earnings environment.
KEY QUOTES:
“CMB.TECH achieved excellent results in the second quarter of 2026, supported by continued strength in tanker and dry bulk markets.”
“We continue to make hay while the sun shines, building on the important strategic decisions taken over the past three years: diversifying beyond tankers, acquiring Golden Ocean and investing in a future-proof newbuilding programme.”
Alexander Saverys, Chief Executive Officer of CMB.TECH
